Templeton Dragon Fund, Inc. (NYSE:TDF) Stock Short Interest Climbs 192.8%

Key Points

• Short interest surged 192.8% to 3,648 shares as of October 15, up from 1,246 shares at the end of September, though short interest remained negligible at 0.0% of shares outstanding.
• Templeton Dragon Fund shares fell 0.6% to $8.92, near the stock’s 12-month low of $8.86 and below its 50-day and 200-day moving averages.
• The fund paid a quarterly dividend of $0.15 per share, equal to $0.60 annually and a 6.7% dividend yield; institutional investors own 47.2% of the stock.

Templeton Dragon Fund, Inc. (NYSE:TDF - Get Free Report) was the recipient of a large growth in short interest in October. As of October 15th, there was short interest totaling 3,648 shares, a growth of 192.8% from the September 30th total of 1,246 shares. Currently, 0.0% of the company's stock are sold short. Based on an average trading volume of 88,522 shares, the short-interest ratio is presently 0.0 days.

Templeton Dragon Fund Stock Down 0.6%

Templeton Dragon Fund stock traded down $0.05 during mid-day trading on Thursday, reaching $8.92. The company's stock had a trading volume of 80,111 shares, compared to its average volume of 73,505. Templeton Dragon Fund has a 12 month low of $8.86 and a 12 month high of $12.20. The business's 50 day simple moving average is $10.01 and its 200 day simple moving average is $10.86.

Templeton Dragon Fund Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 23rd were paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 6.7%. The ex-dividend date was Wednesday, September 23rd.

Hedge Funds Weigh In On Templeton Dragon Fund

Several hedge funds have recently modified their holdings of the stock. Integrated Wealth Concepts LLC bought a new position in Templeton Dragon Fund in the second quarter valued at approximately $184,000. Public Employees Retirement System of Ohio bought a new stake in shares of Templeton Dragon Fund during the 2nd quarter worth approximately $6,574,000. Bank of America Corp DE bought a new stake in shares of Templeton Dragon Fund during the 2nd quarter worth approximately $3,107,000. 180 Wealth Advisors LLC raised its stake in shares of Templeton Dragon Fund by 5.3% during the 2nd quarter. 180 Wealth Advisors LLC now owns 329,251 shares of the financial services provider's stock worth $3,586,000 after purchasing an additional 16,590 shares in the last quarter. Finally, Royal Bank of Canada boosted its holdings in shares of Templeton Dragon Fund by 29.0% in the 1st quarter. Royal Bank of Canada now owns 4,450 shares of the financial services provider's stock valued at $48,000 after buying an additional 1,000 shares during the last quarter. Institutional investors own 47.20% of the company's stock.

About Templeton Dragon Fund

Templeton Dragon Fund, Inc NYSE: TDF is a non-diversified, closed-end investment company that seeks long-term capital appreciation. The fund invests primarily in equity securities of companies that are based in, or derive a significant portion of their revenues from, the People's Republic of China, Hong Kong and other Greater China markets.

Its portfolio may include common stocks and other equity-related investments across a range of industries and company sizes. Through these holdings, the fund provides investors with access to businesses operating in one of the world's major emerging-market regions, while remaining subject to the economic, regulatory and geopolitical risks associated with investing in China and surrounding markets.

Templeton Dragon Fund was established in the mid-1990s and is managed by investment professionals affiliated with Franklin Templeton, a global asset-management organization.

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